Callaway Golf profit up 10%
Callaway Golf Co. of Carlsbad said its second-quarter profit jumped 10% largely because of growth overseas.
Net income increased to $37.1 million, or 58 cents a share, up from $36.6 million, or 53 cents, a year earlier.
The company’s revenue dropped to $366 million, down from $380 million in the second quarter of last year.
The results exceeded Wall Street expectations. Analysts polled by Thomson Financial expected the company to earn 25 cents a share for the quarter.
Shares of Callaway fell 4 cents to $13.63.
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